08/17/2011 Intraday Watering

[99er]

Updates

Gold http://99ercharts.blogspot.com/2011/08/gold_17.html
Silver http://99ercharts.blogspot.com/2011/08/silver_17.html

[davros]

1201.50 on ES now back to resistance - bad

[99er]

Updates

Copper http://99ercharts.blogspot.com/2011/08/copper_17.html
Crude http://99ercharts.blogspot.com/2011/08/crude_17.html

[biotrader]

FXF - rsi buy , 6 week top to top, this is getting too easy - set stop ?

Just How Successful is the Head and Shoulders Pattern?
Overall Success Rate: 40%

i go with a blindfolded monkey 50-50

Bulkowski notes that often when H&S fail they produce an even larger move than the minimum measuring target if they wouldn't have, and so it should be said that just because the H&S fails doesn't mean it's not another trade set up!

For example, fading the head and shoulders top in summer 2009 by using clues such as on balance volume ended up being an very profitable trade.

Agree, H&S patterns are actually really good if traded correctly. I'm not sure where the 40% came from, I don't think that's accurate.

[99er]

Say honey...
30-Year http://99ercharts.blogspot.com/2011/08/30y_17.html
Is Timmay a surfer dude?

[nonabear]

Cobra,

What is your target on the downside here short term after this failed breakout.

thanks

[Cobra]

Cobra,

What is your target on the downside here short term after this failed breakout.

thanks

should be larger than the tinted area, I think.

[nonabear]

Thanks Cobra

[Out of Bounds]

Pivot point today is 119.52 on SPY
R1 was definitely a factor

SPY _2011-08-17 114407 1.GIF (13.07 KiB) Viewed 7627 times

[Petsamo]

We're probably just setting the low of the day. We're still quite a bit above yesterday's low. So, this isn't necessarily bearish.
(Although, my 2nd favorite ETF, XME is flrting with a lower low on the daily chart. )
Japan, Hang Seng, & India, all rallied from their open. Europe is not yet closed.

[99er]

So honey...what about weenies for lunch?
SPX http://99ercharts.blogspot.com/2011/08/spx_6582.html
French or German?

[Cobra]

rising wedge support here. my guess is it won't hold.

[Al_Dente]

Pivot point today is 119.52 on SPY
R1 was definitely a factor

SPY _2011-08-17 114407 1.GIF

S1 pivot at 118.37 seems to be the popular stop point (maybe too popular)

[soku]

supports: if 1190 area cannot hold, we will see 1180-1177 very soon. if still cannot hold, then it will be party time for bears.

[rhight]

UUP hollow red bar on the lower BB

Noticed the same thing. The dollar has dug a hole, and is now sitting on the bottom. Needs to be watched.

[The Hook]

Enormous hollow red bar on UUP. Last two were the first week of May and the first week of November 2010.

[Out of Bounds]

Pivot point today is 119.52 on SPY
R1 was definitely a factor

SPY _2011-08-17 114407 1.GIF

S1 pivot at 118.37 seems to be the popular stop point (maybe too popular)

It's possible, but I would sure think we would need a bit of news to move there. But I'm watching.

[progruss]

Cobra,

What is your target on the downside here short term after this failed breakout.

thanks

should be larger than the tinted area, I think.

Hi Cobra,

Does your logic for this particular tinted area stem from looking at past down moves? It seems you are gauging how strong the market can sell (intraday) before Bulls fight back? Thanks in advance - I'm curious!

[The Hook]

US Gold (UXG) getting poleaxed. A spec leader.

[Anaconda]

So honey...what about weenies for lunch?
SPX http://99ercharts.blogspot.com/2011/08/spx_6582.html
French or German?

Bratwurst, bitte!